Karen purchased a car for $40,000 by taking out a loan that will take 7 years to pay off. Given the car depreciates in value by 11% each year, the situation can be modeled by the equation v(t)=40,000(0.89)t

, where v is the value of the car after t years. If Karen wants to know how much the car will be worth in 7 years, which of the following options would be an appropriate range?

Option #1: 0<t≤40,000


Option #2: 0<v≤40,000


Option #3: 0<t≤7


Option #4: 0<v≤7


(1 point)
Option #

User Icon for Bot GPT 4-o mini Bot GPT 4-o mini answered
2 hours ago

To find out how much the car will be worth in 7 years using the provided model \( v(t) = 40,000(0.89)^t \), we need to evaluate \( v(7) \):

\[ v(7) = 40,000(0.89)^7 \]

First, calculate \( (0.89)^7 \):

\[ (0.89)^7 \approx 0.513 \]

Now substituting this back into the equation:

\[ v(7) \approx 40,000 \times 0.513 \approx 20,520 \]

This means the value of the car after 7 years is approximately $20,520.

Now we need to review the options provided to find the appropriate range for this value:

  1. Option #1: \( 0 < t \leq 40,000 \) - This option refers to the time \( t \) and is not relevant to the car's value.

  2. Option #2: \( 0 < v \leq 40,000 \) - This option refers to the car's value and includes the range for the value of the car, which is valid since after 7 years the value \( v \approx 20,520 \) is indeed less than 40,000.

  3. Option #3: \( 0 < t \leq 7 \) - This option refers to time \( t \) only and doesn't pertain to the value.

  4. Option #4: \( 0 < v \leq 7 \) - This option incorrectly sets an upper limit on value \( v \) with 7, which is not applicable as the value is approximately 20,520.

Given this analysis, the most appropriate option that references the value of the car in the range provided is:

Option #2: 0 < v ≤ 40,000